The Economic Logic of Late Capitalism and the Inevitable Triumph of Socialism

Download or read book The Economic Logic of Late Capitalism and the Inevitable Triumph of Socialism written by Simon Glynn and published by Springer Nature. This book was released on 2020-09-11 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beginning with the economic meltdown of 2007/8, this book shows that the predatory mortgage lending and overleveraging—which is to say, the overextension of credit—which precipitated The Great Recession was a response to a crisis of overproduction reflective of an unavoidable contradiction at the heart of competitive capitalism. This contradiction, in addition to portending capitalism’s inevitable ultimate demise, invites both a pragmatic and moral comparison of (US) capitalism with (Chinese) socialism. Simon V. Glynn provides a critique of political economy and an analysis of the economic logic of capitalism, pointing to the inevitable triumph of socialism.